The end of "ignorance" arbitrage? Seems like plain old selling volatility to me
http://reggiemiddleton.bankimplode.c...nd-game-nears/These companies attempted to undercut the market pricing of risk - charging clients consistantly less than what Mr. Market would, and pocketing the difference, all the while doing so with 100x plus leverage against products with sparse or unkowon loss histories. It was bound to hit the wall. In a few hours, I'm probably going to release some research that shows how regional banks have backed themselves up against the failure wall using 7x to 20x leverage, so just imagine 100x plus leverage...
Worst Economic Advisor Ever. Who was it again that totally and utterly destroyed HP and Compaq?
http://www.nytimes.com/2008/06/06/us...D0ZUWj3zk2TKRgYale prof about McCain's new economics advisor: "You couldn't pick a worse, non-imprisoned C.E.O. to be your standard-bearer."
More fun with (peak?) oil
http://optionarmageddon.ml-implode.c...-so-far-today/-Update 2:28PM: oil now up over $11-
Oil is near $139 a barrel as I write this, a record high even after accounting for inflation.
Shura member calls for oil production curbs in Saudi Arabia.
"The level of oil production in Saudi Arabia must be linked to the country's actual development and financial needs not to market prices and the need of foreign consumer. It is not wise to sap this resource just to satisfy the demand of foreign markets."http://globaleconomicanalysis.blogsp...rsonality.htmlDateline June 28th 2000 - The 2000 presidential campaign
Bush Would Use Power of Persuasion to Raise Oil Supply
http://abcnews.go.com/Business/Econo...ory?id=5010997Oil's Biggest Day yet Drags Down Stocks
Oil prices make biggest single-day leap; Dow Jones tumbles nearly 400 points
http://www.washingtonpost.com/wp-dyn...060503434.htmlAt $3 a gallon, Americans just grin and bear it, suck it up and, while complaining profusely, keep driving like crazy.
At $4, it is a world transformed. Americans become rational creatures.



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